LAHORE: A Chinese company on Wednesday expres­­sed interest in establishing a steel mill with a million tonne capacity in Punjab during a meeting with the Punjab Board of Investment and Trade (PBIT).

A ten-member delegation of Ansteel International Trading Company met with Minister for Mines and Minerals, Chaudhry Sher Ali Khan, Minister for Indus­tries, Choudhry Shafique, PBIT Chairman Abdul Basit and PBIT CEO Amena Cheema at the board’s headquarters, a press release said.

Ansteel, with presence in Australia, Spain and Italy, showed interest in setting up a mill in Chiniot or Kalabagh as these areas have iron ore and coal deposits.

Officials assured the delegation of safety and security of investment and personnel.

The company has been promised easy access to raw materials such as water, limestone and coal as well as a steady supply of labourers and skilled workers who will be trained as per Ansteel’s requirements.

The company would also be given a 30-year lease in a mineral rich area with an easy option to keep extending the lease in 10-year installments.

Published in Dawn, March 3rd, 2016